Bitcoin miners earn $ 1 million every hour

Since May, the mining of the first cryptocurrency began to bring in 185% more profit, even though the reward was halved due to halving.

Bitcoin miners’ income has increased by $ 185% since the halving in May, which lowered the mining reward from 12.5 BTC to 6.5 BTC. Now people and companies mining the first cryptocurrency are making about $ 1 million an hour. This was announced by the analytical service Glassnode in its Twitter account.

#Bitcoin miners are currently earning $1,000,000 per hour.

This is an increase of 185% since the halving.

The last time miner revenue was this high, was in July 2019. Note that block rewards were twice as high than today.

Chart 👉 https://t.co/Yc8ufHv23I pic.twitter.com/oaCUPkDEZN

— glassnode (@glassnode) December 28, 2020

The specialists noted that the last time miners earned so much from mining bitcoin was in July 2019. Then the coin was trading in the range from $ 9 thousand to $ 11 thousand. But at that time, the reward for mining BTC was twice as high as the current one, they emphasized in Glassnode.

The growth in the profitability of bitcoin mining was due to an increase in its value. In May, when the halving took place, the price of the coin fluctuated around $ 9,000.Since that moment, it has risen by almost 200%, to $ 26,400.On December 27, BTC set a new historical maximum above $ 28,000.

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